Excess Award definition
Examples of Excess Award in a sentence
Any such Excess Award or Settlement Amount shall constitute Acquisition Expenses under this Agreement and the Redeveloper will be required to pay the amount thereof to the Agency, in accordance with this Agreement, to enable the Agency to pay such Excess Award or Settlement Amount to the Clerk of the Court or the Parcel Owner.
With respect to any Condemned Parcel where the Parcel Owner does not accept the Agency’s Parcel Value and files a timely proceeding or appeal, the security will continue to be held until such time as either the Parcel Owner agrees to a settlement or the court makes a final award and, in either case, the Redeveloper pays the amount, if any, by which the Settlement Amount or the Excess Award exceeds the amount of the Deposited Funds deposited with the Statement of Compensation.